Wyoming Gaming Commission Uncovers No Alarming Sports Betting Restriction Statistics
The Wyoming Gaming Commission Unveils Sports Betting Limits Findings
The Wyoming Gaming Commission recently revealed the outcomes of its investigation into sports betting operators restricting state users. A special agent from the commission shared that only a microscopic fraction (less than 1%) of Wyoming sports bettors have experienced such limitations.
As per Michael Steinberg, deputy director and special agent supervisor of gaming compliance for the commission, these confinements are generally set at a maximum of $500 or $1,000 on a specific market, far from the claimed "pennies" by some sources.
The commission requested data on limitations from licensed sports betting operators and had a public discussion in November with American Bettors' Voice Chairman Gadoon "Spanky" Kyrollos, aiming to learn more about sports betting limitation strategies.
Not Just Limiting Winning Bettors
Steinberg explained that the overwhelming majority of customers with limitations on their accounts were suspected of some form of "gaming misconduct." Examples he cited include placing prop bets during live events before the telecast, manipulating lines among sportsbooks, and creating multiple accounts to abuse incentives.
Interestingly, Steinberg claimed only a small fraction of those limited (10%) were due to operators catching errors in setting odds and taking advantage of them. He emphasized that the limits felt relatively mild, with no serious instances of concern uncovered by staff.
Is It Cheating After All?
Richard Schuetz, CEO of American Bettors' Voice, questioned the usage of the term "cheating" in Steinberg's examination. If these Wyoming sports bettors are indeed breaking the rules of the commission's sports betting regulations, one might expect legal action to have been taken.
"It's intriguing to see the term 'cheating' used here, implying either the operators reported these cheaters to the regulators and law enforcement or we should expect arrests and legal proceedings. If operators failed to report such instances, it could potentially jeopardize their licenses," Schuetz commentated to Sports Betting Dime.
Practicing individualized betting limits, instead of universal limits across all events, can be a "red flag" for transparency avoidance, according to Kyrollos.
"If limitations weren't a thing, one would expect operators to have clear minimum and maximum betting limits per event, much like slot machines or table games at casinos," he explained.
What Will Massachusetts Regulators Discover?
While the Wyoming Gaming Commission failed to find troubling data in its sports betting market, Massachusetts may have different results. The Massachusetts Gaming Commission (MGC) is currently evaluating limitations practices within its jurisdiction, borrowing a page from Wyoming.
The Massachusetts Gaming Commission is set to uncover hints of a correlation between a bettor's win rate and limitations implemented on their account, making Massachusetts the first state to delve into this tricky issue on a nationwide scale.
- The Wyoming Gaming Commission's findings show that sports betting limitations in Wyoming are not solely due to operators catching errors in setting odds, as the overwhelming majority of customers with limitations have been suspected of gaming misconduct.
- Richard Schuetz, CEO of American Bettors' Voice, raised questions about the usage of the term "cheating" in the Wyoming Gaming Commission's examination, as it implies either reported violations of sports betting regulations or legal action against the violators, but no such instances have been discovered.
- If Massachusetts' Gaming Commission finds a correlation between a bettor's win rate and the limitations imposed on their account, it could potentially be the first state to delve into this issue on a nationwide scale, shedding light on the transparency and fairness of sports-betting practices across different jurisdictions.
